ACC 304 help A Guide to career/Snaptutorial ACC 304 help A Guide to career/Snaptutorial | Page 144

b. Deposits Received from Customers
c. Deferred Revenue
d. All of these
27.
Which of the following items is a current liability?
a. Bonds (for which there is an adequate sinking fund properly
classified as a long-term investment) due in three months.
b. Bonds due in three years.
c. Bonds (for which there is an adequate appropriation of retained
earnings) due in eleven months.
d. Bonds to be refunded when due in eight months, there being no
doubt about the marketability of the refunding issue.
28. Which of the following should not be included in the current
liabilities section of the balance sheet?
a. Trade notes payable
b. Short-term zero-interest-bearing notes payable
c. The discount on short-term notes payable
d. All of these are included
29.
Which of the following is a current liability?
a. Preferred dividends in arrears